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REGISTERED NUMBER: 02159064















SM PLANT LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023






SM PLANT LIMITED (REGISTERED NUMBER: 02159064)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


SM PLANT LIMITED (REGISTERED NUMBER: 02159064)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 320,555 178,724

CURRENT ASSETS
Stocks 1,012,062 634,589
Debtors 5 433,601 338,221
Cash at bank 432,979 1,768,378
1,878,642 2,741,188
CREDITORS
Amounts falling due within one year 6 1,044,037 2,170,452
NET CURRENT ASSETS 834,605 570,736
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,155,160

749,460

CREDITORS
Amounts falling due after more than
one year

7

(209,233

)

(159,569

)

PROVISIONS FOR LIABILITIES (74,006 ) (21,854 )
NET ASSETS 871,921 568,037

CAPITAL AND RESERVES
Called up share capital 13,232 13,232
Retained earnings 858,689 554,805
SHAREHOLDERS' FUNDS 871,921 568,037

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SM PLANT LIMITED (REGISTERED NUMBER: 02159064)

BALANCE SHEET - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 January 2024 and were signed on its behalf by:





S G Milligan - Director


SM PLANT LIMITED (REGISTERED NUMBER: 02159064)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

SM Plant Limited is a private company limited by shares. The company is registered in England under number 02159064 and the address of the registered office is Barclays Bank Chambers, Stratford upon Avon, Warwickshire, CV37 6AH. The company's place of business is 28 Somers Road, Rugby, Warwickshire, CV22 7DB.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

SM PLANT LIMITED (REGISTERED NUMBER: 02159064)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a Workplace Pensions scheme for all employees. The company's contributions are charged to the profit and loss account as they accrue. Differences between contributions payable and paid are included in accruals or prepayments in the balance sheet.

Government grants
Revenue grants received are credited to the profit and loss account as and when the relevant expenditure has been incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 343,107
Additions 245,757
Disposals (58,867 )
At 31 May 2023 529,997
DEPRECIATION
At 1 June 2022 164,383
Charge for year 67,207
Eliminated on disposal (22,148 )
At 31 May 2023 209,442
NET BOOK VALUE
At 31 May 2023 320,555
At 31 May 2022 178,724

SM PLANT LIMITED (REGISTERED NUMBER: 02159064)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2022 201,590
Additions 227,440
Disposals (43,017 )
At 31 May 2023 386,013
DEPRECIATION
At 1 June 2022 84,268
Charge for year 50,063
Eliminated on disposal (18,185 )
At 31 May 2023 116,146
NET BOOK VALUE
At 31 May 2023 269,867
At 31 May 2022 117,322

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 358,201 298,034
Other debtors 75,400 40,187
433,601 338,221

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 29,000 29,000
Hire purchase contracts 84,319 36,690
Trade creditors 756,571 1,908,531
Taxation and social security 110,795 149,149
Other creditors 63,352 47,082
1,044,037 2,170,452

SM PLANT LIMITED (REGISTERED NUMBER: 02159064)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 60,417 89,417
Hire purchase contracts 148,816 70,152
209,233 159,569

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 233,135 106,842
Group SM Retirement Scheme - 20,000
233,135 126,842

9. ULTIMATE CONTROLLING PARTY

The company's parent company is Group SM Limited, whose registered office is Barclays Bank Chambers, Stratford-upon-Avon, Warwickshire, CV37 6AH.